IHeartMedia Announces Debt Restructuring, Analyst Turns Bullish And Raises Forecast
IHeartMedia Announces Debt Restructuring, Analyst Turns Bullish And Raises Forecast
Shares of iHeartMedia Inc (NASDAQ:IHRT) have climbed almost 70% year to date.
iheartmedia股票（NASDAQ:IHRT）今年以来上涨了近70%。
The radio and podcasting company, which recently cut 5% of its workforce, is restructuring debt. This removed an overhang on its stock, according to Bank of America Securities.
这家广播和播客公司最近裁减了5%的员工，正在进行债务重组。根据美国银行证券的说法，这消除了股票的某种压力。
Analyst Jessica Reif Ehrlich upgraded the rating for iHeartMedia from Underperform to Neutral, while raising the price target from $1 to $3.
分析师Jessica Reif Ehrlich将iheartmedia的评级从表现不佳调升至中立，并将价格目标从1美元提高至3美元。
The iHeartMedia Thesis: The company has entered into a "transaction support agreement with a group of debt holders" to refinance at least 80% of its outstanding debt and extend maturities by three years, Ehrlich said in the upgrade note.
iheartmedia论点：根据调升通知，Ehrlich表示，该公司已与一组债权人签署了“交易支持协议”，以至少80%的未偿债务进行再融资，并将到期日延长三年。
Check out other analyst stock ratings.
查看其他分析师的股票评级。
Cash interest will be kept "essentially flat," which will result in an overall debt reduction, she added.
她补充说，现金利息将保持“基本持平”，这将导致总体债务减少。
"This removes a significant overhang for shares as the debt was approaching maturity, and there had been increased concerns regarding the company's ability to refinance their capital structure," the analyst wrote.
分析师写道：“这消除了股票的重大压力，因为债务接近到期，并且人们对该公司能否重新融资其资本结构的担忧在增加。”
IHeartMedia now has "a longer runway" to continue growing its digital business. It can also manage its cost base, and rejuvenate its broadcast business, Ehrlich said.
Ehrlich表示，iheartmedia现在“有更长的起飞跑道”来继续发展数字业务。他们还可以管理其成本基础，并使其广播业务焕发活力。
The debt restructuring and better-than-expected 2025 guidance make the risk-reward "more balanced," Ehrlich said.
债务重组和预计2025年业务优于预期的指引使风险回报更为平衡，Ehrlich表示。
Price Action: Shares of iHeartMedia had risen by 0.60% to $2.50 at the time of publication on Tuesday.
股价走势：在周二发布时，iheartmedia股票上涨了0.60%，至2.50美元。
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Image: Shutterstock
图片：shutterstock
